Nucor Co. (NYSE:NUE) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lessened its holdings in shares of Nucor Co. (NYSE:NUE) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,140 shares of the basic materials company’s stock after selling 102 shares during the period. Perigon Wealth Management LLC’s holdings in Nucor were worth $372,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Nucor in the third quarter valued at $25,000. Providence Capital Advisors LLC grew its holdings in Nucor by 15,470.4% in the first quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 4,177 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Nucor during the first quarter valued at $32,000. Valley National Advisers Inc. boosted its stake in shares of Nucor by 716.7% during the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 172 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Nucor during the third quarter valued at $40,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research note on Tuesday. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com raised Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Finally, UBS Group initiated coverage on Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.83.

Nucor Stock Performance

NYSE NUE opened at $192.12 on Wednesday. The business’s 50-day moving average price is $190.87 and its 200 day moving average price is $173.06. Nucor Co. has a twelve month low of $129.79 and a twelve month high of $203.00. The company has a market capitalization of $46.10 billion, a PE ratio of 10.68 and a beta of 1.61. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the prior year, the business posted $4.89 earnings per share. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, research analysts predict that Nucor Co. will post 13 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.12%. Nucor’s dividend payout ratio (DPR) is 12.01%.

Insider Transactions at Nucor

In other news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares in the company, valued at $23,351,936.58. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock worth $7,308,683 in the last three months. 0.64% of the stock is currently owned by company insiders.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.